The Bonddad Blog
Still nerdy after all these years
Tuesday, January 5, 2010
Notice the following on the month long IEF chart.
1.) There are a total of 20 candles on the chart. 12 are bearish (red).
2.) There are 8 gaps down on the chart
The price EMA picture is extremely bearish: prices are below all the EMAs, all the EMAs are moving lower and the shorter EMAs are below the longer EMAs.
A.) Momentum is clearly decreasing and
B.) Money is starting to flow out of the ETF